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An interesting read published by Deloitte Center for Board effectiveness and Center for Audit Quality in March 2024. Evaluating the priorities for audit committees and the challenges, opportunities and improvements in audit committee effectiveness.
Cybersecurity regulation across the U.S and EU is driving regulatory compliance into the board rooms of covered entities. Regulation that requires the third line to assure cybersecurity regulatory compliance across all three lines of Defense. Cybersecurity and risk management are priorities for audit committees of covered entities going forward. It is a priority for the audit community as it addresses the lack of skilled cyber and risk auditors; the necessary education, and the development of appropriate tools for audit assurance of cybersecurity and risk management.
One has presented many times over the past 18 months for The Institute of Internal Auditors Inc. and ECIIA | European Confederation of Institutes of Internal Auditing, on the needs for the audit community to focus on cybersecurity risk management governance, oversight and assurance. Supporting compliance of cybersecurity regulation in the U.S and EU, compliance that requires a 3 Line model to oversight, assure and attest cyber risk.
Veritas GRC is working with audit and legal colleagues in the U.S to develop the board cybersecurity risk management program to oversight, assure and attest cybersecurity risk management regulatory compliance. Embedding the 3rd Line of Defence, as a critical capability, into the program to assure cybersecurity risk management.
@Thaddeus Dziekanowski Brian D. McCarthy Ryan Buckner Rachel V. Rose, JD, MBA
#cybersecurity #cyberriskmanagement #cyberregulation
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